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OpenTable, Inc. (OPEN) Message Board

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  • itsallaboutgrowth itsallaboutgrowth Mar 24, 2010 4:32 PM Flag

    Way way overpriced

    I'm hearing all over that the 20-something youngsters think Open Table is "the bomb!" (Apparently that means "totally awesome, dude!") Of all those apps & websites that direct you to food, how many are fully integrated enough to easily let you make your reservations? Open Table!

    With my smartphone I'm watching more and more restaurants jump on board both locally and everywhere I travel. Heck, my old lady (totally computer illiterate) recently turned me onto it. It's all about growth, man, and the word seems to be leaking out about Open Table, nice and slow-like.
    "Overpriced?" With a stock like this, that's just another way of saying, "Shorties are gonna get squashed constantly." Hee, hee, hee....

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    • It's dangerous to play IPOs unless they're already well established companies with a solid customer base. OpenTable seems nothing more than a FAD to me, kind of like CROX.

      • 2 Replies to mastermindsail
      • OPEN is interesting to me precisely because their business model does NOT depend on consumer fad behavior. I know exactly what you're saying about CROX. The difference here is that OPEN supports the innate consumer habit (not fad) of constantly searching for a good restaurant and needing to make a reservation to guarantee a spot. It's also well-done that customer reviews and menus are available with one touch before you book. But the best part is, if a restaurant doesn't license their nicely-integrated reservation system, that restaurant doesn't appear as an option. The more popular becomes, the more business the good restaurants get, and OPEN gets steadily-growing license revenue. Talk about a win-win growth opportunity?!

        I use the OpenTable app from my iPhone in my home town, and also used it on business travel in both San Jose and L.A. over the past 2 weeks. Fabulous, like nothing else! (Don't think of this as just a computer website - the mobile phone app is the finishing touch to a beautiful, complete package!)

        I'm old, and not involved with Open Table. I've seen this sort of business pattern before. It's a very rare thing of beauty.

      • Biggest problem with opentable is that it's only really good in urban markets. Travel outside major metropolitan cities and you won't find it.

        Friend is an owner of a very nice restaurant and was approached by opentable. She said thanks but no thanks. Didn't make any sense for her to use their software with the foot traffic she has in her restaurant.

        Makes sense in the greater metro areas. Outside of that makes no sense at all.

    • Hee, hee, hee.... This is fun!

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